‘The Defiant Ones’ is presented as a response to financial inequality, Donald Trump explained. His children posted messages on their social networks in favor of the industry.
The Republican candidate Donald Trump announced a new cryptocurrency platform which aims, according to the former US president, to challenge the big banks and financial elites.
Under the name of ‘The DeFiant Ones’, Trump has not given further details, but has written this message on his social network, Truth Social: “For too long, the average American has been Crushed by big banks and financial elites“It’s time for us to stand up for ourselves together.”
“In the coming days, we will be sharing some important updates and announcements,” it added. In addition, his older sons, Donald Jr. and Eric, already posted messages earlier this month such as “We are going to revolutionize the crypto world” or “I’ve really fallen in love with Crypto/DeFi,” hinting at what his father announced weeks later.
Possible Democratic nominee Kamala Harris has yet to comment on crypto, but there are signs that her advisers are looking for a Restoring ties with industryaccording to a report by the Financial Times.
Donald Trump cryptocurrencies.JPG
Reuters
Cryptocurrencies: why a possible Trump electoral victory would benefit Bitcoin
A possible victory of Donald Trump in the upcoming US presidential election could favor the extension of corporate tax cutswhich would lead to greater liquidity that could be directed to the crypto market, explained macroeconomist Lyn Alden.
“The market may be saying that A Trump victory increases the chances that those tax cuts will remain in place. or become permanent,” Alden said in an interview with the press. This means that“all things being equal, potentially larger deficits […] can be stimulating for parts of the market.”
According to Alden, the most important macroeconomic factor affecting cryptocurrency markets remains global liquidity, but which has gradually recovered in recent months.
Referring to the projections of the New York Federal Reserve, Alden expects the Fed’s balance sheet to be restored by 2025, or “at least not shrinking any further”. That could significantly drive up the price of Bitcoin.
“I think we are probably breaking the trend now, and if not, then I would expect a breakout later this year or in 2025,” he concluded.
Source: Ambito
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